ALERT: Glassnode warns Bitcoin faces heavy long-term holder resistance at $83K–$85K, with a break below $75K potentially opening the door to $60K.

What happened

Glassnode, a market analysis firm, warns that Bitcoin faces strong selling pressure from long-term holders in the $83,000–$85,000 range. If the price falls below $75,000, it could potentially drop to $60,000.

Confirmed

Global impact / market context

This warning suggests that Bitcoin's price may struggle to rise above $85,000 because long-term holders might sell. If it drops below $75,000, investors could see further losses, affecting their portfolios and confidence in the cryptocurrency market.

Analyst inference

Bitcoin's price is currently facing resistance, meaning it may have difficulty going higher. A break below $75,000 could trigger more selling, potentially leading to a drop toward $60,000. This could impact other cryptocurrencies and related investments.

Analyst inference

What to watch

1. Watch whether Bitcoin's price can stay above $75,000. If it falls below this level, the warning suggests a possible drop to $60,000, which would be a significant decline for investors. Confirmed
2. Consider monitoring trading volume near the $83,000–$85,000 range. High volume might indicate strong selling by long-term holders, while low volume could mean the resistance is weaker than expected. Proposed
3. If Bitcoin breaks below $75,000, expect increased volatility and potential losses for investors holding Bitcoin. This could also affect other digital assets and companies with exposure to cryptocurrency. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• x.com